ANZ Rewards Black Credit Card

Name: ANZ Rewards Black
Item: ANZ Rewards Black
Author: Compare the Card

Enjoy 130,000 bonus Reward Points and $150 back with uncapped points earning potential.*

Enjoy ANZ’s highest Reward Points earning potential, with uncapped flexible rewards, plus access to exclusive events and privileges. Packed with platinum perks including complimentary insurances when shopping and travelling, it also has a generous 55-day interest free period on purchases.

Earn 130,000 bonus Reward Points and $150 back to your new ANZ Rewards Black credit card when you spend $2,000 on eligible purchases in the first 3 months from approval.*

*New card. T&Cs, eligibility criteria, fees & charges apply (including annual fee, currently $375).

ANZ Rewards Points Forecast

Balance Transfer Savings

0% Purchase Savings

View Offer

286,000

estimated points earned
plus $150 cashback

You could save

in months

You could save

in months

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Program

130,000

Bonus Points

$375

p.a.

Annual Fee

Points per $

p.a.

% p.a.

Purchase Rate

$

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Annual Fee

% p.a.

Purchase Rate

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Annual Fee

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ANZ Rewards Black Credit Card Review

Reviewed on 19 October 2020 by Maja – credit card expert & co-founder of Compare the Card

With 130,000 bonus Reward Points plus $150 back to your new card when you spend $2,000 on eligible purchases in the first 3 months from card approval, the ANZ Rewards Black is ANZ’s top-tier Reward Points credit card. Packed with platinum perks including complimentary insurances when shopping and travelling, it also has a generous 55-day interest free period on purchases.

What do we love about this card?

With uncapped flexible rewards, you can earn 2 Reward Points per $1 spent on eligible purchases up to and including $5,000 per statement period, then 1 Reward Point per $1 of eligible purchases above $5,000. With ANZ Rewards, you have a great range of redemption options to choose from, including entertainment, gift cards, shopping vouchers, merchandise and much more. Because Reward Points are uncapped, there’s no limit on the number of points you can earn in a year.

ANZ Rewards Black cardholders can also earn additional bonus points when shopping online via the ANZ Bonus Points Mall, with some retailer offers allowing you to earn over 10 Bonus Reward Points per dollar spent. You just need to remember to click via the ANZ Bonus Points Mall link before you start shopping.

How much is 130,000 Reward Points worth?

An ANZ Reward Point is worth approximately 0.45 cents (based on the redemption of a $100 digital gift card at a retailer like Woolworths, Coles, David Jones or Myer), meaning you’ll need approximately 222 Reward Points for each dollar you want to redeem. You’ll generally find that gift cards are the best value redemptions for your Reward Points, and it’s usually worth hunting around for a sale at a retailer from which you can get a gift card, rather than buying it outright from the online store. Similarly, cashbacks tend to net you a lower dollar value per point and aren’t the best use of your points, though it may be a more convenient option for some people.

The 130,000 bonus Reward Points offer translates to around $580 worth of gift cards (based on the sample of retailers above), meaning the card is great value compared to its $375 p.a. annual fee.

How does the ANZ Rewards Black compare to the ANZ Rewards Platinum?

If you’re spending $1,500 or more per month, the ANZ Rewards Black easily outdoes the ANZ Rewards Platinum and ANZ Rewards cards, largely due to its superior bonus offer but also thanks to its higher Reward Points earning rate, which widens the gap between the cards the more you spend.

Comparison based on $1,500 per month of spend over 24 months

What benefits does the card come with?

The platinum perks on offer are excellent, with complimentary insurances when shopping like Guaranteed Pricing, Extended Warranty Insurance and Purchase Protection amongst the highlights. There are also complimentary insurances when travelling, including International Travel Insurance, Interstate Flight Inconvenience Insurance, Rental Vehicle Excess in Australia Insurance and Transit Accident Insurance. Of course, terms and conditions apply to all complimentary offerings, so make sure to review them before you apply.

Guaranteed pricing allows you to recoup up to $300 you may have overpaid for an eligible purchase at a physical store for up to 21 days after your purchase. This means that if you find a catalogue item within 25 km’s of your purchase within 21 days, you can claim the difference if it’s more than $75.

Purchase protection offers 90 days of cover if an eligible item you purchased on your card is lost, stolen, or accidentally damaged, up to $10,000 depending on the item.

Extended warranty insurance applies from the date the manufacturer’s warranty expires and applies for the same period as the manufacturer’s warranty for up to a maximum of one year (except if the manufacturer’s warranty exceeds 5 years). Given additional warranty is normally an added cost for big ticket purchases, this is a great way to redeem additional value from your card.

ANZ Rewards Black cardholders also get exclusive access to invitation-only events, from entertainment to once-in-a-lifetime food and lifestyle experiences. Some past events have included Australian Open Tennis experiences, unique dining experiences at exclusive restaurants such as Attica and wine tasting masterclasses. There’s also a complimentary Personal Concierge service that can help you with restaurant or hotel bookings, gift ideas, travel recommendations and much more.

What could be better?

The ANZ Rewards Black credit card’s international fees are higher than average at 3%. This means that although the card is fantastic for shopping domestically, it doesn’t make for a great international purchase companion (though this probably isn’t a big deal right now). As the minimum credit limit of $15,000 may not be for everyone, the ANZ Rewards Platinum is also a solid contender.

You can also opt to redeem your ANZ Reward Points for frequent flyer points or airmiles, which is a great option for those who want to supercharge their frequent flyer points balance. However, if you were hoping to redeem them for Qantas Points, it’s worth mentioning that Qantas isn’t a transfer partner, so you’ll be better off with a direct-earn Qantas Points credit card like the ANZ Frequent Flyer Black.

Summary

If you’re looking for a supercharged Reward Points credit card, the ANZ Rewards Black credit card is an outstanding top-tier credit card packed with platinum perks, strong Reward Points earning ability and an annual fee that is on par with the competition (and largely offset by the $150 you would get back to your card by meeting the offer spend requirement).

Ready to apply?

You can apply for the ANZ Rewards Black credit card securely via the ANZ website. The application process only takes 5 minutes.

Pros

Transit Accident Insurance
Guaranteed Pricing Scheme
Purchase Protection Insurance
Extended Warranty Insurance
Rental Vehicle Excess in Australia
Interstate Flight Inconvenience Insurance
International Travel Insurance
Great bonus points offer
Up to 55 days interest free period

Cons

Relatively high international transaction fee of 3%
Charges additional cardholder fee of $65
Relatively high annual fee

Cash Advance Rate Interest rate incurred for a cash advance	20.24% p.a.
Other Requirements	Yes Don't currently hold and haven't opened or closed an ANZ Rewards Black, ANZ Rewards Platinum or an ANZ Rewards credit card in the last 12 months
Mobile Cardless Payments	Yes Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Minimum Credit Limit	$15,000
Card Type	Visa
Interest Free Period The maximum period of time that no interest is charged on new purchases. May not be applicable if the account or closing balance is not paid in full by the due date.	Up to 55 days
Balance Transfer Rate The interest rate applied to the balance transfer amount for a set period of time	20.24% p.a. Interest rate payable on the remaining balance of debt that has been transferred to this card
Annual Fee An annual fee is charged in full for each year or part of a year that the card is held. The annual fee may differ between the first and subsequent years.	$375 Includes a $320 Annual Account Fee and a $55 Rewards Program Service Fee
Rewards Program	ANZ Rewards
Purchase Rate The standard interest rate that applies to purchases on the card	20.24% p.a.

Minimum Age	18 years of age or over
Temporary Resident Application	Yes, conditions apply Must have more than 9 months available on Visa
Joint Application	No

Bonus Points The promotional bonus points offered. A minimum spend requirement within a set time period may apply. For example, in order to earn 90,000 bonus points, you may need to spend at least $3,000 per month on eligible transactions during the first three months. Some transactions may be excluded or earn points at a reduced rate, e.g. cash advances, government or foreign transactions. Conditions apply. Refer to the bank's website for full T&Cs.	130,000 Earn 130,000 bonus Reward Points and $150 back to your new ANZ Rewards Black credit card when you spend $2,000 on eligible purchases in the first 3 months from approval.
Rewards Earn Rate per $ spent The number of rewards points earned for each eligible dollar spent on the card	2 points per $ Earn 2 Rewards points per $1 spent on eligible purchases up to and including $5,000 per statement period, then 1 Reward Point per $1 spent on eligible purchases above $5,000 per statement period, Uncapped

Bonus Points

130,000

Rewards Earn Rate per $ spent

2 points per $

International ATM Withdrawal Fee	$5
Maximum Additional Cardholders Maximum number of additional cardholders	Up to 9
Additional Cardholder Fee Fee incurred for adding an additional cardholder to the account	$65
International Transaction Fee Fee incurred for transactions made in foreign currency	3% of transaction amount
Cash Advance Fee	2% or $4, whichever is greater
International Cash Advance Fee	2% or $4, whichever is greater
Late Payment Fee Fee incurred if the minimum repayment is not paid by the due date	$20
Minimum Monthly Repayment The minimum repayment that must be paid by the payment due date to avoid incurring late fees. Interest will still be charged on the remaining amount owing.	2% or $25, whichever is greater
Annual Fee An annual fee is charged in full for each year or part of a year that the card is held. The annual fee may differ between the first and subsequent years.	$375 Includes a $320 Annual Account Fee and a $55 Rewards Program Service Fee

Travel Insurance Terms, conditions, limits and exclusions may apply, check product site for details	Yes International Travel Insurance Interstate Flight Inconvenience Insurance Rental Vehicle Excess in Australia Transit Accident Insurance
Purchase Insurance Terms, conditions, limits and exclusions may apply, check product site for details	Yes Purchase Protection Insurance Extended Warranty Insurance Guaranteed Pricing Scheme
Concierge Service	Yes
Automatic Card Repayments	Yes

Your Top Questions Answered for the ANZ Rewards Black

How many Reward Points can I earn with the ANZ Rewards Black credit card?

The ANZ Rewards Black has uncapped Reward Points earning potential, which means the sky’s the limit when it comes to the number of points you can earn. It also has a high Reward Points earning potential of 2 Reward Points per dollar up to $5,000 each statement period (then 1 Reward Point per dollar above $5,000).

Thanks to the fantastic bonus offer, you can earn 130,000 bonus Reward Points plus $150 back when you spend $2,000 on eligible purchases in the first 3 months from approval.

How do I earn ANZ Reward Points with this card?

You can earn Reward Points by using your ANZ Rewards Black credit card to pay for eligible purchases. For a definition of purchases eligible to earn Reward Points, check the terms and conditions.

What are the eligibility criteria for this credit card and the bonus offer?

To apply for this credit card, you must be 18 years of age or over and a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your Visa.

You will also need to ensure you meet all of the eligibility criteria of the offer, which includes meeting the spend requirement within the specified timeframe. You must also ensure that you don’t currently hold or haven’t opened or closed an ANZ Rewards Black, ANZ Rewards Platinum, ANZ Rewards credit card in the past 12 months.

Does this card come with any extras?

Yes! The platinum perks on offer are excellent, with Guaranteed Pricing, Extended Warranty Insurance and Purchase Protection amongst the highlights. There are also complimentary insurances when travelling, including International Travel Insurance, Interstate Flight Inconvenience Insurance, Rental Vehicle Excess in Australia Insurance and Transit Accident Insurance. Of course, terms and conditions apply to all complimentary offerings, so make sure to review them before you apply.

What is the best way to redeem ANZ Reward Points?

You can generally get the most bang for your buck by redeeming your Reward Points for gift cards and vouchers, compared to redeeming them for merchandise in the rewards store.

Can I redeem ANZ Reward Points for frequent flyer points?

Yes! A great feature of the ANZ Rewards Program is that you can redeem your Reward Points for frequent flyer points and airmiles, including Velocity Frequent Flyer Points, Air New Zealand Airpoints Dollars, Singapore Airlines KrisFlyer miles or Asia Miles, which makes it very flexible frequent flyer points earning credit card. Note that Qantas is not a transfer partner.

How much is an ANZ Reward Point worth?

A Reward Point is worth approximately 0.45 cents (based on the redemption of a $100 digital gift card at a retailer like Woolworths, Coles, David Jones or Myer), meaning you’ll need approximately 222 Reward Points for each dollar you want to redeem.

If you want to use the Reward Points for a cashback onto you card, you’ll need 25,000 Reward Points to get $100 cashback. Compared to redeeming points for vouchers, this is a slightly less economical option, at a cost of 0.40 cents per point or 250 points per dollar.

Do ANZ Reward Points expire?

Your ANZ Reward Points do have an expiry date, so make sure to use them within 36 months of 31 December of the year in which the Reward Point was added to a Points Record. Reward Points that remain unused after they have expired will be cancelled.

Am I eligible for this offer if I’ve previously held this card or another ANZ credit card?

This offer is only available to those who don’t currently hold or haven’t opened or closed an ANZ Rewards Black, ANZ Rewards Platinum, ANZ Rewards credit card in the past 12 months.

Can I use the card with Apple Pay or Google Pay?

Yes, you can use your ANZ card with the top mobile payment systems, including Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay.

Can I apply for the ANZ Rewards Black on my mobile?

Yes, you can apply for the ANZ Rewards Black credit card securely via the ANZ website. The application is mobile-friendly and only takes 5 minutes.